Financial literacy project will alleviate poverty

 I SUPPORT the recent statement by World Vision country director Heather MacLeod, which supported the Bank of Papua New Guinea’s financial literacy programmes.

Financial literacy is indeed the way forward for poverty alleviation and skills building with the goal of increasing their economic independence. Global financial institutions like the World Bank and IMF have regarded economic independence through financial literacy programmes as the key to mitigating poverty because it really has the potential to change the lives of vulnerable and afflicted people. 

Having a long healthy life, basic knowledge and a decent standard of living are the three indicators measuring the human development index of a nation, and by all means financial literacy programmes are of paramount importance to achieving all these three. 

Thus, we acknowledge the efforts of the BPNG in promoting this programme and partnering World Vision. 

We would appreciate all the stake holders take this programme on board to economically empower our vulnerable women and girls recovering from poverty to be self-sufficient to provide for the innocent affected children, the futures of this nation. 

I strongly believe in the words “You educate a man- and you educate him for his pot-bellies, but you educate a woman- and you educate a whole nation.” 

The education of girls and women impacts the rest of the societies in which these girls and women live and interact. 

The degree of education is linked to the whole life of a woman and their children, to their health and diseases, to their economic opportunities, to their social standing, and to their general future wellbeing.    

Promoting this financial inclusion program should be a collective responsibility. 

It is a task for both the government and the private sector. Each has a role to play; the private sector in partnering, harnessing and adapting to community needs as they have direct interactions with them and, the government in creating an enabling environment for greater financial inclusion. 

Willie J Minala

NCD